IS&S Q4 net sales up 79% to $13M; FY2023 revenue $34.8M (+26%); cash over $8M

INNOVATIVE SOLUTIONS & SUPPORT INC

Q4 net sales $13.0M (+79% YoY); net income $2.6M ($0.15 EPS) vs $1.6M ($0.09 EPS) a year ago.
FY2023 revenue $34.8M (+26% YoY); net income $6.0M ($0.35 EPS) vs $5.5M ($0.32 EPS) prior year.
Cash on hand >$8M as of Dec 19, 2023, up from $3.1M at Sep 30, 2023; aided by receivables and aircraft sale.
Honeywell acquisition integration on track; expected to boost annualized revenues ~40% from pre-acquisition levels in FY2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INNOVATIVE SOLUTIONS & SUPPORT INC reported the fiscal year ended September 30, 2023 results: revenue Total revenues for the fiscal year ended September 30, 2023, were $34.8 million, net income Net income for fiscal 2023 was $6.0 million, or $0.35 per share, EPS $0.35 per share.

Period: the fiscal year ended September 30, 2023
Revenue: Total revenues for the fiscal year ended September 30, 2023, were $34.8 million
Net income: Net income for fiscal 2023 was $6.0 million, or $0.35 per share
EPS: $0.35 per share
Result: reported results

Exact text from the filing

Total revenues for the fiscal year ended September 30, 2023, were $34.8 million, up 26% from $27.7 million for the fiscal year ended September 30, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INNOVATIVE SOLUTIONS & SUPPORT INC reported the fourth quarter and full fiscal year 2023, which ended September 30, 2023 results: revenue net sales of $13 million, net income net income of $2.6 million, or $0.15 per share, EPS $0.15 per share.

Period: the fourth quarter and full fiscal year 2023, which ended September 30, 2023
Revenue: net sales of $13 million
Net income: net income of $2.6 million, or $0.15 per share
EPS: $0.15 per share
Result: reported results

Exact text from the filing

its financial results for the fourth quarter and full fiscal year 2023, which ended September 30, 2023. For the fourth quarter of fiscal 2023, IS&S reported net sales of $13 million, up 79% from $7.3 million in the fourth quarter a year ago. The Company reported net income of $2.6 million, or $0.15 per share, increases of 63% and 67%, respectively, compared

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Source: SEC EDGAR

accession 0001104659-23-127737

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